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 02. NEWSMAKERS
Continued from page 01
First India-Africa Forum Summit Held

In the Retreat, we had a very constructive discussion on issues such as food and energy security, UN reforms, climate change and trade. We found several commonalities in the challenges that face us and in our aspirations. I offered Indian assistance in ushering in a Green Revolution in Africa through holistic capacity building in agricultural production, storage and transportation.

While we have met over these two days at the government level we have also undertaken several outreach events before or concurrent with the Summit.
These are:

  • The first ever India-Africa Editors Conference
  • Joint performances by Indian and African cultural troupes
  • A seminar of intellectuals from Africa and India on India-Africa Partnership in the 21st century
  • A programme for youth and women from Africa
  • A business conclave. India has also begun to develop cooperation with the Regional Economic Communities of Africa and with the African Union (AU). India’s pan-African e-network project is an example of our cooperation at the continent wide level.

We have laid firm foundations on which to build the new framework of cooperation. It is now time to plan ahead to implement the joint programmes of cooperation and to build a meaningful and productive Indo-African partnership. India looks forward to doing so with all the resources at our disposal.

We greatly cherish the friendship and empathy that Africa has always shown to India. This is an asset to our foreign policy. We in turn hope that this Summit has enabled us to convey to the people of Africa India’s readiness to be a partner in their quest for stability, peace and prosperity.

I would like to conclude by thanking my colleagues from Africa for their active participation in the Summit and for their whole-hearted endorsement for a stronger and deeper India-Africa partnership.”

‘India, Australia trade cooperation will enhance Asian integration’

The emergence of a mutually-beneficial trade pattern in Australia’s relationship with East Asia over the years is now being replicated between Australia and India, as well. And, together both the countries could bolster Asian integration in a more meaningful and mutually advantageous manner.

Prof Peter Drysdale of the Crawford School of Economics and Government at the Australian National University (ANU), an authority on the East-Asian and Pacific economies, contends that such a trade relationship remains strategically crucial to East Asia.

Australia now supplies around half of Northeast Asia’s key imported industrial raw materials and more than 22 per cent of Japan’s energy supplies (not including uranium). Stating that bilateral trade and economic relationship is growing rapidly, Prof Drysdale said that Australia’s commodity exports to India rose by 37 per cent. India is already Australia’s second largest market for metallurgical coal and is a huge potential market for energy, including uranium.

Australia is also the second largest destination for Indian students, after the US, with 60,000 students studying in Australia each year. He added, “We want to upgrade participation as the partnership between India and Australia benefits from training in both sides”. Prof. Drysdale said, “It is not only opportunity for delivering commodities but also opportunities for services including tourism. With growing number of Indian visitors, migration is a new and a major component.”

Prof Drysdale said the emergence of the Indian economy and the opportunity for integration of the South and East Asian economies, including Australia, is important. “East Asia needs a coalition to deal with the problems not only with itself but with the rest of the world. For Asia, the proximity to the region and the complementarity of their economic and trade structures would intensify intra-regional trade and investment ties as Asia experiences deeper integration with global markets”.

Source : www.blonnet.com

Australia backs India's bid for permanent seat in UNSC

Australia said it will push for India to become a permanent member of the United nations Security Council which should be expanded to reflect the "modern world".

"We think the permanent membership should be changed to reflect the modern reality, having on the permanent membership Japan, for example, and India, for example," Foreign Minister Stephen Smith says told ABC TV. "That much more reflects the modern world than the current institution," he said.

The Minister said the UN should no longer reflect the situation of the 1940s and 50s, and Australia, which is seeking a temporary seat in the powerful body, wanted it to tackle issues like climate change, millennium development goals and international trade.  Smith said Australia will push for India and Japan to become permanent members, the AAP reported.

Smith said Kevin Rudd government's quest for non-permanent membership of the council came from a desire to modernise the UN and play a bigger role in world affairs. The United States, Britain, France, Russia and China have been the Security Council's permanent members since its formation after World War II.

Smith said Australia should be making a greater contribution at an international level. "I don't think we punch above our weight. I think we can do and have to do more. We are a significant country. We are a robust parliamentary democracy, (a) well-developed prosperous economy."

The Foreign Minister said it was worth spending tens of millions of dollars seeking a council seat, adding that the government would not compromise itself in the process.

Source: The Pioneer

India Inc mobilises 32,000 cr via rights issue in FY 08

India Inc has mobilised a record over Rs 32,000 crore through issue of shares on rights basis in fiscal 2007-08, driven by the mega issues from State Bank of India and Tata Steel, a latest report says.However, the picture may not be that rosy in the current fiscal due to the subdued secondary market conditions, according to primary market database provider Prime. Corporate India has raised Rs 32,518 crore through right issue in the last fiscal, a jump of over eight-fold as compared to Rs 3,703 crore that was raised in FY 2006-07. Rights route refers to issuing rights to a company's existing shareholders to buy a proportional number of additional shares at a given price, usually at a discount, within a fixed period. The mobilisation of funds in the last fiscalhave made history as it was more than even the combined mobilisation of the preceding 12 years.

More than half of the year's mobilisation came courtesy the country's largest lender SBI's rights issue, while another 28 per cent was taken up by Tata Steel.  "These issues, in a sense, were exceptional issues and are not indicative of any trend," Prime founder and managing director Prithvi Haldea said. The largest issue from State Bank of India mobilised Rs 16,736 crore and other Rs 1000 crore-plus issues were from Tata Steel (Rs 9,135 crore), Federal Bank (Rs 2,141 crore) and Indian Hotels (Rs 1,447 crore).

Source : Financial  Express

EU proposes Gandhian non-violence to promote human rights 

The European Parliament (EP) in its annual report on human rights in the world has said it considers "Gandhian non-violence to be the most appropriate means of ensuring that fundamental human rights are enjoyed, upheld, promoted and respected". The report on the status of human rights in 2007 proposed that promotion of non-violence "should constitute a priority objective in EU human rights and democracy policy", reported EuAsiaNews. With a view to giving this idea a central political role, the EP report called for a European conference on non-violence to be convened in 2009 and that 2010 be designated the European Year of Non-Violence. It called on EU member states to endeavour within the UN set-up to ensure that 2010-2020 is proclaimed the Decade of Non-Violence.

The EP's Foreign Affairs Committee adopted the draft report  oand it will be voted on by the EP's plenary session on May 8. Italian MP Marco Cappato who authored the report said: "This (Gandhian non-violence) concept does not only mean non-violence but it's something active like not collaborating with an authoritarian regime, a hunger strike or the sabotage of violent acts against the population." The report criticised the human rights situation in China, Iran, Pakistan and Russia. The EP expressed "its disquiet at the serious human rights violations in China and stresses that despite promises made by the regime with a view to the forthcoming Olympic Games, the situation on the ground regarding human rights has not improved".

The report noted the worsening human rights situation in Pakistan throughout 2007, in particular the threats to the independence of the judiciary and the freedom of the media. An attempt by British EP member of Pakistani origin, Sajjad Karim, to include a reference to Kashmir in the report was rejected. The report also condemned the ongoing violations of human rights and democracy by the military junta in Myanmar.

Source - Hindustan Times

Incredible India’ campaign all set to go places, literally

The Tourism Ministry’s ambitious campaign ‘Incredible India’ is all set to go places, and quite literally, as major international flights including British Airways and Lufthansa, have agreed to the Ministry’s proposal to show TV commercials and films promoting Indian tourism in overseas markets, in their flights. This in-flight campaign, which is considered mutually beneficial, will be run free of cost.
This was decided on a meeting held at the Ministry, in which officials from the Tourism and Civil Aviation ministries were present.

Apart from the British Airways and Lufthansa, the meeting had representations from Quantas, Sri Lankan Air, Turkies Airlines, Asiana Airlines, All Nippon Airlines, Delta Airlines, Air France, Singapore Airlines, Virgin Atlantic, Swiss International and Finn Air.
The Ministry and the airlines are also working on a proposal to bring travel writers from respective countries to India on free airfare basis to further promote tourism. While the criteria of selecting the writers will be left to the airlines, the Ministry would provide boarding, lodging, etc.

Source : The Indian Express

Narayana Murthy to join HSBC board

Global banking giant HSBC on Monday said Indian IT major Infosys’ Chief Mentor N. R. Narayana Murthy would join its board in May with an annual remuneration of 65,000 pounds (about Rs. 52 lakh). “Nagavara Ramarao Narayana Murthy CBE (61) has been appointed a Director of HSBC Holdings plc with effect from May 1.

He will be an independent Non-Executive Director,” HSBC said in a regulatory filing here. The appointment shall be for an initial three-year term, which would expire at the conclusion of the 2011 Annual General Meeting,
it said.

Source : The Indian Express



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